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E-commerce giant Alibaba Group, which runs Taobao.com, has established a new business offering customers higher investment yields than interest from banks. Alibaba Group, founded in 1999, provides services for Internet users in countries and regions across the world. It announced at the end of 2012 that total transaction volume at the group's online shopping platform Taobao.com exceeded 1 trillion yuan by November, or 5.4 percent of the country's retail sales for consumer goods in 2011.
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  • By He Wei In Shanghai And Li Fusheng In Beijing(China Daily)2017-12-08 07:29

    Alibaba Group Holding Ltd announced on Thursday that it has made a solid step forward in smart vehicle development through a partnership with US auto giant Ford Motor Co. Under a three-year agreement, the duo will explore opportunities in internet-connected cars, artificial intelligence and mobile s...

  • (China Daily)2017-12-05 07:58

    Item from Dec 5, 1991, in China Daily: A Beijing resident uses an electronic teller in the Wangfujing branch of the Industrial and Commercial Bank of China. It is the first bank in Beijing to use electronic tellers, providing easier and faster banking services for customers. Since the first automate...

  • By Fan Feifei(China Daily)2017-12-05 07:22

    JD Finance, the financial subsidiary of China's second biggest e-commerce player JD.com Inc, is ramping up efforts to leverage its big data, cloud computing and artificial intelligence to better serve financial institutions. Liu Qiangdong, founder and CEO of JD.com, said AI is a kind of technology a...

  • By Li Xiang(China Daily)2017-12-05 07:22

    A customer pays his bill with WeChat Pay in Hong Kong. [Photo/Xinhua]After a period of explosive growth, the financial technology - or fintech - sector in China will likely see slower but more regulated growth, with greater emphasis on leveraging technology to drive true innovation, analysts said. C...

  • By Hu Yuanyuan And Ouyang Shijia And Fan Feifei(China Daily)2017-12-04 08:06

    Editor's Note: The fourth World Internet Conference, also known as the Wuzhen Summit, began on Sunday in Wuzhen, Zhejiang province, and will close on Tuesday.In the run-up to the event, China Daily reporters Hu Yuanyuan, Ouyang Shijia and Fan Feifei quizzed senior executives from three internet-base...

  • By Ma Si And He Wei(China Daily)2017-12-03 09:16

    Nation fast becoming global hotbed for innovation and product development What happens every minute online in China? Well, in every 60 seconds, users hail about 1,400 cabs and 2,800 private cars on Didi Chuxing, the country's largest car-hailing company. More than 194,000 people are video or audio c...

  • By He Wei In Shanghai(China Daily)2017-12-03 07:47

    You have probably heard of KFC. But in the internet lexicon, that catchphrase does not refer to the famous US fried chicken chain. It represents the initials of the slogan: "Kaobei (the pinyin for copy) from China". Clearly, the country's shift from creating so-called technology clones to a genuine ...

  • By Xiang Wenjian In Wuzhen(chinadaily.com.cn)2017-12-02 15:58

    Alibaba's unattended supermarket pops up in Wuzhen, Zhejiang province during the fourth Light of Internet Expo. [Photo by Xiang Wenjian/chinadaily.com.cn]The Light of the Internet Exposition got underway at the Wuzhen Internet International Convention and Exhibition Center in Wuzhen, Zhejiang provin...

  • By He Wei In Hangzhou(China Daily)2017-12-02 06:53

    E-commerce behemoth Alibaba Group Holding Ltd has pledged 10 billion yuan ($1.51 billion) over the next five years to combat poverty in China through a special fund established on Friday. The Alibaba Poverty Relief Fund serves the company's "strategic goal" for poverty alleviation using its technolo...

  • By Cao Yin(China Daily)2017-12-02 06:52

    New wave of regulations should be introduced to help crack down on online hackers, according to industry insiders Cybersecurity has been beefed up since tough new regulations were rolled out in the summer. But industry insiders have insisted that more needs to be done after laws were introduced on J...

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